Economics Report - East Asia's Territorial Disputes

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America's	Asia	China	Competition	English	From	a	and	area	as
competing	countries	expert	for	has	have	he	higher	is
of	other	over	said	so	subsidies	territorial	that	to	trade

VOA Learning English, welcome to Economic News in Special . Economic growth in East Asia and the Pacific region expected to reach 7.9 percent this year. That is than in any other part of the world. But is only part of the story. The other side East Asia's success includes conflicting territorial claims in the and trade imbalances with the rest of the world. for natural resources is an increasingly important issue. This led to territorial disputes. For example, the islands known Diaoyu in China and Senkaku in Japan are thought be rich in oil. Areas around the islands are to be good fishing grounds. China and Japan have claims for the territory. Kenneth Lieberthal is an Asia with the Brookings Institution here in Washington. He says has not seen evidence that either China or Japan willing to reduce tensions over the islands. That means disputes will likely continue. China, Japan, Korea, Taiwan, Vietnam the Philippines are involved in territorial claims with neighbors West Pacific islands. Trade imbalances are another issue. East has long been a source of exports. China's big imbalance with the United States has concerned US.. lawmakers years. Some blame China's control of its currency for big trade deficit. But Kenneth Leiberthal does not think . He notes other policies. One is China's direct support many of its important industries with government aid, or . Mr. Lieberthal says Chinese rules at home also hurt seeking to export to China. He says these and issues such as the abuse of intellectual property rights a much bigger effect on America's trade deficit with . For VOA Learning English, I'm Laurel Bowman. (Adapted from radio program broadcast 08Feb2013)

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